Rhode Island: Small State Offers Big Tax Credit for Film and TV Production

In the nation’s smallest state by territory, studios and networks can avail themselves with one of the largest production incentives: a hefty transferrable tax credit on qualified spend.

Rhode Island is known for its seacoast, where large bays alternate with inlets; for its blue-blood wealth and stately mansions of Newport, which co-exist along the small-town charm of nearby areas; and for an ivy league university (Brown) that acts as a magnet for brainy kids worldwide.

Another advantage of Rhode Island locations: they’re all just about a one-hour drive from Boston, which has emerged as a major production hub, and about a three-hour drive from New York City, the nation’s media capital and one of world’s most important production centers.

Specifically, the main incentive is a 25% transferrable tax credit on qualified spending in the state that includes both resident and non-resident above-the-line and below-the-line labor.

To qualify, a project must spend a minimum of $100,000. There’s no project cap for film and television production.